IRS releases draft 2009 Form 990
January 14, 2010
The IRS has released a draft 2009 Form 990; the instructions have yet to be published. The draft includes the following substantive changes from the 2008 form:
- The core form directs filers to indicate whether they received audited financial statements on either a consolidated or separate entity basis. For the 2008 Form 990, only filers who received their own separate audited financial statements could indicate that they received audited financial statements. Where consolidated audited financial statements were prepared, only the parent organization of entities with consolidated financial statements could report that it received audited financial statements, even if the statements include a consolidating schedule.
- Schedule G requires reporting additional details for expenses related to fundraising events.
- Substantive sections of Schedules H (hospitals) and K (bonds) that were optional in 2008 will be required in 2009.
- Schedule J (compensation) includes a new question asking whether the organization followed the procedures to establish the rebuttable presumption of reasonableness in setting compensation in an initial contract.
To access the draft 2009 Form 990 and schedules enter Form 990 in the "Find" field and select the Product Number in the drop down box.
Director, Tax Policy
- Federal Education Budget Limited by Spending Caps
- Lawmakers Ease 1098-T Penalty Enforcement
- EPA Announces Athletic Conferences With Most Green Power
- 2015 CAO and CBO Collaborations
August 3-4, 2015
- 2015 Planning and Budgeting Forum
September 28-29, 2015
- 2015 Tax Forum
October 25-27, 2015
- WEBCAST: Developing Your Campus Distance Learning Strategy
Wednesday, August 12, 2015 1:00PM ET
- WEBCAST: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
Wednesday, September 9, 2015 12:00PM ET
- ON-DEMAND: A Just-in-Time Webcast to Explain FASB’s NFP Reporting Proposal
- ON-DEMAND: Decoding ED's Cash Management Proposal
- ON-DEMAND: Corporate Sponsorships: Getting it Right
- ON-DEMAND: Analytics that Support Planning, Budgeting, and Results
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis